Industry: Cloud-based software solutions supporting managed service providers (MSPs), including cybersecurity, endpoint management, and data protection services

About Company:

N‑able offers a unified platform designed for MSPs to deliver cybersecurity, backup, network monitoring, and remote management tools via cloud-based SaaS. Their integrated solutions enable small to mid-size businesses to scale securely through digital transformation services delivered by MSPs

Company History:

• Began as part of SolarWinds; spun off on July 19, 2021 to become an independent public company
• Since the spin-off, N‑able has steadily built its platform and expanded international reach while maintaining profitability and growth.

Company Advantage Over Competitors:

• Designed specifically for MSPs, offering full-stack, integrated tools tailored to their business model.
• Scalable architecture that supports growth from small MSPs to global providers managing thousands of client endpoints.
• Consistent strategic focus and innovation post-spin-off, positioning them ahead of legacy tools and large security vendors in the MSP ecosystem

Risk Factors You May Want to Consider:

• Competitive pressure from larger cybersecurity and IT tooling providers, including new AI-native startups and legacy vendors expanding into MSP channels.
• MSP growth dependency: N‑able’s expansion relies heavily on MSP adoption and their client enrollment and retention.
• Technology risk: Must continuously innovate against evolving cyber threats; platform degradation or integration delays can impact reputation.
• Separation-related risks: As a spin-off, N‑able bears strategic, operational, and financial independence risks from its SolarWinds legacy

What Makes This Company Special or a Good Investment?

• Predictable recurring revenue model: Subscription revenue drives stability—Q1 2025 ARR expected between $519M and $525M, demonstrating solid growth momentum
• Consistent financial performance: Q4 2024 revenue grew 7% YoY, and full-year adjusted EBITDA margin is projected at 27%–28%, indicating strong operating leverage
• Focused niche leadership: By delivering MSP-centric endpoint protection and services, N‑able occupies a distinct strategic position with embedded pricing models and ecosystem lock-in.
• Upcoming catalyst: Q2 2025 earnings call scheduled for August 7, 2025—likely to include updated ARR, margin trends, and expansion plans